Pantos: ICO of Bitpanda founders brings in about four million euros

It was a short ICO with no “pre-sale”, discounts or bonuses. Pantos, the “Multi-Blockchain Token System”, which Bitpanda is developing together with the Vienna University of Technology, was financed with around four million euros and should be ready in a few months.

“We started the ICO at the worst time in the past few months. Everything was going down. For four million euros are not a bad result, “said Bitpanda co-founder Paul Klanschek in conversation with the incubator. Specifically, the ICO paid 322 BTC, 2.779 LTC, 2.482 ETH, 257 DASH, 694.876 XRP and 181 BCH from 7821 users. For the Pantos project, which is the first to allow cross-blockchain transfers of tokens, a modest funding target for ICO ratios was set from the beginning. At the start of the ICO, the maximum possible amount was just over ten million euros. “We will never do ‘fancy things’ and spend money for the sake of spending, as some others do. With the sum you can do a great deal. For me, the question is more what people do that take in 100 million. You can already build up a major international company, “says Klanschek.

Blockchain Foundations as official partners

So what should happen to the money? Apart from Bitpanda, the TU Vienna is decisively involved in the Pantos project. “Researchers of the TU already sit in our office and work hard with our people to implement it,” says Klanschek. There are also many other partners. The aim is to create the “world’s first multi-blockchain token system” (Token Atomic Swap Technology – TAST). This means that with Pantos tokens can be transferred from one blockchain to another. In the first generation this should be possible with Bitcoin, Ethereum, Waves, Komodo, Lisk and nem. The Waves, Komodo and Lisk Foundations are official project partners. “They are even desperately looking for people. They will not invest much time in the project. But their technicians are always at our disposal for integration to succeed, “says Klanschek. Matching project partners were also found for the integration of the other blockchains.

“In a few months”

As a first step, the PAN coins purchased at the ICO will be issued. But even the actual product, for which the capital was taken up, should soon be available. “We try to make it happen as soon as possible. But I do not want to promise an exact date yet. In technical developments, you can never give reasonable estimates, “says Klanschek, and then betrayed on demand:” When I say, ‘In a few months’, I lean, I think, not too far out the window. ” Nevertheless, he also mentions that currently at Bitpanda even more employees, u.a. for the project, would be searched.

No discounts and bonuses

The main reason that the ICO went well, despite the generally aggravated situation, sees Klanschek in the confidence that Bitpanda will face. “People knew that when Bitpanda does that, it’s not a scam or a half thing. There is way too much good reputation on it that you could lose. As a result, we have also been able to partner with the big platforms, which gives us even more confidence. ” And of course it is also the mode of the “Technology ICO”. “There was no pre-sale, we did not distribute any discounts and bonuses – everything was very clear and transparent,” says Klanschek.

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